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Started By
Message
re: How many people here still have homeowners and/or flood insurance?
Posted on 2/2/21 at 9:46 am to Travis Scott
Posted on 2/2/21 at 9:46 am to Travis Scott
I have both because the gubment makes me buy flood insurance. Just another racket.
1
Posted on 2/2/21 at 9:46 am to Travis Scott
Almost everyone in Louisiana should have flood insurance. Almost everyone in the country should have homeowners insurance.
Posted on 2/2/21 at 10:03 am to samson73103
quote:The government only requires you to buy flood insurance if you have a federally backed mortgage or a federal disaster loan/grant. If your loan is paid off and terms of grant are satisfied, then you're free to drop your flood insurance if you so choose.
the gubment makes me buy flood insurance
Posted on 2/2/21 at 11:24 am to Tiger Prawn
What a dumb idea, I'm agreeing to most messages here, don't drop the Home owner's insurance. If you could afford the mortgage payments I am sure you will be able to afford the monthly payments of the insurance. You're buying peace of mind.
Also, just in case, if in the future you need to do a total home renovation or addition to your home and decide to borrow money from the bank, such as a HELOC or line of credit, the bank will require that you have insurance, if you don't have one, they will say "bye bye".
Also, just in case, if in the future you need to do a total home renovation or addition to your home and decide to borrow money from the bank, such as a HELOC or line of credit, the bank will require that you have insurance, if you don't have one, they will say "bye bye".
Posted on 2/2/21 at 11:30 am to Travis Scott
I’ll be sure to link this thread when you post your gofundme
Posted on 2/2/21 at 11:36 am to Palomitz
quote:And you will have a hard time getting new homeowners insurance at that time (at least for a decent rate) because a lot of homeowner carriers frown upon lapses in coverage and will either decline you or surcharge due to the lapse.
Also, just in case, if in the future you need to do a total home renovation or addition to your home and decide to borrow money from the bank, such as a HELOC or line of credit, the bank will require that you have insurance, if you don't have one, they will say "bye bye".
Posted on 2/2/21 at 11:38 am to Travis Scott
quote:
the day that I finished paying off my house after 15 years and was finally able to drop my homeowners insurance.
I would probably wait until I could buy my house a second time before I did such a thing. But different strolks for different folks.
Posted on 2/2/21 at 12:00 pm to Travis Scott
This is a troll. This is not real. No one is this stupid.
Posted on 2/2/21 at 12:00 pm to Travis Scott
Derp
Posted on 2/2/21 at 12:08 pm to Travis Scott
Yea you sure is dumb if you're in Louisiana. I just lost my home to Laura and thank god for insurance.
Posted on 2/2/21 at 12:09 pm to Travis Scott
lightning? home in our neighborhood struck and burned to the ground. It would be much smart to get a high deductible policy,
Posted on 2/2/21 at 12:18 pm to Travis Scott
Our family homestead just north of Gainesville. My great great grandfather built that house before the Civil war. My Great Grandmother, Grandmother and Mother were all born in that house. My cousin was living in it and restoring it to it's original beauty when it burned with no insurance. Nobody would insure a 150+ year old house.
This post was edited on 2/2/21 at 12:27 pm
Posted on 2/2/21 at 12:19 pm to AmazingSpiderDog
I don’t carry flood insurance on west causeway approach in mandeville
Posted on 2/2/21 at 12:32 pm to AncientTiger
quote:
$1 Million liability umbrella
most umbrella policies require you to carry a certain amount of liability on home and auto.
Posted on 2/2/21 at 1:17 pm to AmazingSpiderDog
quote:
Nobody would insure a 150+ year old house.
Not before being restored (new electric, plumbing, roof, etc..).
Based on the photo, i wonder why?
Posted on 2/2/21 at 1:18 pm to Travis Scott
quote:
Yesterday was the day that I finished paying off my house after 15 years and was finally able to drop my homeowners insurance.
15 years to pay off your camper?
Is that like cancelling home insurance and auto insurance in one?
Posted on 2/2/21 at 1:24 pm to Travis Scott
I haven't had a mortgage for many years. House caught fire in one of the bedrooms. Electrical fire. Had to gut the entire house and rebuild the bedroom portion. Liberty Mutual paid out roughly $250k to repair the house and replace contents. I'd probably be homeless right now if I didn't have insurance. I know I wouldn't still be married. Lol
Posted on 2/2/21 at 3:42 pm to Travis Scott
What do you get out of trolling? A few days ago you had no net worth and were bitching about 15/30/15 liability limits on your car. You're a sad little boy.
Posted on 2/2/21 at 4:38 pm to Travis Scott
We lived in a no flood zone for Hurricane Katrina - luckily we had the ‘cheap’ flood insurance (less than $1 a day) - because that’s the only thing that paid off after 15 feet of water and then another 6 for Hurricane Rita
Sure insurance is a scam until you need it.
Sure insurance is a scam until you need it.
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